AXA IM Alts has acquired a 300-unit multifamily residential complex in The Netherlands for an undisclosed sum.
The global asset manager said it has bought The Ridge in Delft on behalf of clients.
The Ridge, delivered in two phases in 2018 and 2020, comprises a mix of fully-let apartments and studios, over five floors.
Bernard d’Ocquier, the head of transactions Benelux at AXA IM Alts, said: “This was a rare opportunity to acquire a modern, fully occupied scheme in one of our high conviction sectors, in a country where we have near-term ambitions to grow our residential footprint.
“Occupying a sought-after micro-location extends our footprint in the structurally undersupplied residential-for-rent sub-sector. Furthermore, the property’s environmental credentials are aligned with our strong belief in the importance of minimising a building’s carbon footprint, reducing operating costs and the tenant wellbeing offering across our real estate portfolio.”
The Ridge is AXA IM Alts’ seventh residential acquisition in the Netherlands. The manager currently manages over €25bn of residential assets globally spread across 16 countries.
To read the latest edition of the latest IPE Real Assets magazine click here.
